Barrick Gold Corporation (NYSE: GOLD, TSX: ABX) announced today that it achieved preliminary Q1 production of 1.37 million ounces of gold and 106 million pounds of copper, both in line with its operating plans and guidance.After setting a production record at the its Kibali mine last year, Barrick says the operation is on track for another record performance in 2019. The Kibali gold mine is a join...Read More
Newmont Mining's $10 billion acquisition of Canada's Goldcorp closed Thursday, giving rise to Newmont Goldcorp Corporation (NYSE: NEM)(TSX: NGT), the world's largest gold producer by market value, output and reserves.The mammoth company, to be led by Gary Goldberg until the end of the year, will mine in the Americas, Australia and Ghana, producing between 6 and 7 million ounces of gold annually o...Read More
Bob Moriarty of 321 Gold explains why he sees this explorer as undervalued and details the ways it is advancing its properties. GFG Resources Rattlesnake Hills Gold ProjectIn my latest book I try to make the point that at resource stock market lows, you can't give shares away. That is all by itself a great indicator of where we stand in the cycle. We are now easing into the weakest seasonal perio...Read More
The benefits and terms of the transaction, termed an "astute deal" that both adds value and "removes the M&A overhang," are discussed in an iA Securities report. In an April 16 research note, iA Securities analyst George Topping reported that Lundin Mining Corp. (LUN:TSX) entered into a definitive purchase agreement to wholly acquire Yamana Gold Inc.'s (YRI:TSX; AUY:NYSE; YAU:LSE) Chapada copper-...Read More
Oman's Jindal Shadeed, part of India's Jindal Steel & Power (JSPL), has successfully commissioned a new billet caster with a capacity of 2 million tonnes per year at its mill in Sohar in northern Oman, equipment provider SMS Group said on Thursday April 18"[The new billet caster] is currently operating with six strands and produces rebar billets of 165 millimeters square section at a casting speed...Read More
Travelers and American Express posted notable earningsStocks closed higher on the last day of the holiday-shortened week, with the Dow notching a triple-digit gain on the back of outperforming blue chips and better-than-expected March retail sales data. Specifically, Travelers (TRV) and American Express (AXP) both traded near the top of the Dow after earnings. The S&P 500 and Nasdaq ended in posit...Read More
Tibnor, the distribution arm of Swedish steelmaker SSAB, has increased its footprint in Denmark, following the completion of its acquisition of Sanist??l, Denmark's second largest steel distributor, it said on Thursday April 17.The acquisition, worth around 630 million Swedish krona ($68.15 million), includes Sanist??l's automated steel distribution center in Taulov, Denmark, four sales offices in...Read More
By: IRA EPSTEINAbbreviated trading in many markets, lower volumes. Friday closed. Gold in bearish trend, $1297-1300 resistance. Market oversold, bearish tone unless moves back above $1,300:Read More
Today's chart shows why it can be so difficult to make money in a bull market, even when one "knows" how high a stock is headed. We've been confident that Facebook will eventually hit 190, a Hidden Pivot target first aired here more than three weeks ago when the stock was trading around 167. We still think it'll get there, come hell or high water. But what an agony it has been to simply go w...Read More
There is no hope for gold and silver next week if they do not see short covering and rise. Physical demand for gold and silver will be high in Asia and more so in India and Indonesia as they open after a holiday. Risk traders use a buy on sharp dips strategy with a stop loss below $1255 for Monday and a stop loss below $1440 for silver for Monday. Copper is bullish and seems headed for $310 next...Read More
The Monday’s fire of Notre Dame Cathedral shocked the world. Since then, the French, the Catholics, and the architecture and art lovers hadn’t been talking about anything else. The precious metals community was less disturbed – even though it turns out that gold investors can actually learn a lot from the Notre Dame’s fire.We have visited Paris for the first time only a mon...Read More
Legislation fears have the sent healthcare sector reelingSure, it was a holiday-shortened week, with Wall Street taking a breather for Good Friday. But there was plenty of action leading up to the break, with the Dow alternating between red and black all week as investors digested various blue-chip corporate earnings reports. The healthcare sector sold off amid concerns over recent policy proposal...Read More
SPLK was poised to bounce from a historically bullish trendlineSubscribers to Schaeffer's Weekly Options Trader service more than doubled their money in just two weeks with the Splunk Inc (NASDAQ:SPLK) weekly 4/12 116-strike call. Below, we will dive into why we anticipated a fast and aggressive upside move from the software stock, and how the options trade unfolded.When we first recommended the c...Read More
China's output of crude steel and finished steel in the first quarter of 2019 both increased significantly year on year on good demand and healthy profits.The country produced a total of 231.07 million tonnes of crude steel over the first three months of 2019, up 9.9% from a year earlier, the National Bureau of Statistics (NBS) said on Wednesday April 17. Chinese mills produced 269.07 million tonn...Read More
PINS stock began trading on the Big Board earlier todayBlue chips are outperforming on the final trading day of the week, thanks to positive earnings reactions for American Express (AXP) and Travelers Companies (TRV). Among other names making notable moves are social media stock Pinterest Inc (NYSE:PINS), rare genetic disease specialist Mustang Bio Inc (NASDAQ:MBIO), and cannabis issue Canopy Grow...Read More
Mitch McConnell will introduce a bill to raise the minimum age to buy tobacco and e-cigsThe shares of Altria Group Inc (NYSE:MO) are lower today, after U.S. Senate Majority Leader Mitch McConnell of Kentucky announced plans to introduce a bill in May to raise the minimum tobacco-buying age to 21. That legislation would also encompass vaping devices -- including the Juul, of which Altria owns a 35%...Read More
Global ferrous scrap prices rebounded in the week to Thursday April 18 on returning demand from Turkish steel mills. Export prices on the United States' East Coast moved up as a result.But demand was limited in the key import market of Vietnam due to a mill stoppage, while Taiwanese steel mills remained well-stocked. Turkey demand returns US market picks up on East Coast Mill stoppage in Vietnam d...Read More
TAL has been a volatile stock in recent yearsAmong the more under-covered names reporting earnings next week is China-based TAL Education Group (NYSE:TAL). The company, which focuses on educational technology services, reports earnings before the open next Thursday, April 25. The event is notable due to TAL stock's post-earnings volatility from recent quarters -- and it doesn't hurt that the share...Read More
The S&P and Nasdaq are poised for weekly lossesThe suffering healthcare sector is keeping the Dow Jones Industrial Average (DJI) in check again today, with investor anxiety ramped up over recent policy proposals fromlegislators. However, the Dow remains in the black at midday, with help from positive earnings reactions for Travelers (TRV) and American Express (AXP). On the other hand, the S&P 50...Read More